Goldman Sachs makes $20 Million investment in Indian medical device company

gmsAn Indian business publication is reporting that U.S. investment bank Goldman Sachs is making a $20 million equity investment in an Indian medical device company.

BPL Medical Technologies makes electrocardiographs, defibrillators, patient monitors, oxygenators and ultrasound scanners among other medical equipment and is part of the BPL Group, which makes consumer appliances and home entertainment products like TVs.

The article notes that Goldman Sachs has already invested more than $2 billion in Indian companies since 2006 and they include healthcare industry investments in Nova Medical Centers and Max India. Nova Medical Centers owns and operates a group of surgical and In-vitro fertility centers in the Asian nation. Max India has a healthcare subsidiary which operates hospitals throughout the country.

The report notes what Ankur Sahu, co-head of private equity in Asia making the following statement:

” This investment reflects our continued focus on the Indian healthcare sector where we will continue to fund segments that have a great need and large untapped potential Leveraging our global healthcare expertise and relationships, we are excited to partner with the BPL Group to build a high-quality medical device leader in India.”

According to other press reports, Goldman’s equity inivestment marks the second instance of a global private equity firm betting on the local Indian medical device industry. In April, TPG reportedly invested $23 million in Sutures India, which makes surgical consumables.

With foreign capital flowing to local companies, competition from local device makers is likely to heat up as U.S. device makers are also making a beeline to tap into fast-growing device market. Aside from foreign capital, device makers in places like China also benefit from government prioritizing local innovation.






Source : Indian Express | May 13, 2013


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Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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